Investment Rating - The investment rating for Qingdao Port (601298) is "Buy" [1] Core Views - The report highlights that Qingdao Port has maintained steady growth in its operating performance, with cargo throughput steadily increasing [2] - The financial performance shows stable profit growth, with a year-on-year increase in net profit attributable to shareholders of 6.33% for the first three quarters of 2025 [3][4] - The report projects revenue and net profit growth for the years 2025 to 2027, with expected revenues of 191.12 billion, 194.59 billion, and 197.81 billion respectively, and net profits of 54.91 billion, 57.18 billion, and 59.39 billion respectively [4] Summary by Sections Operating Performance - Cargo throughput for the first three quarters of 2025 reached 546 million tons, a year-on-year increase of 2.4% [4] - Container throughput for the same period was 25.84 million TEUs, up 7.1% year-on-year [4] Financial Performance - Revenue for the first three quarters of 2025 was 14.238 billion, reflecting a year-on-year growth of 1.86% [4] - Net profit attributable to shareholders for the first three quarters was 4.180 billion, with quarterly figures of 1.402 billion, 1.439 billion, and 1.339 billion, showing growth rates of 6.51%, 8.64%, and 3.79% respectively [4] Earnings Forecast - The report forecasts earnings per share (EPS) of 0.85, 0.88, and 0.91 for the years 2025, 2026, and 2027 respectively, with corresponding price-to-earnings (P/E) ratios of 10.14, 9.74, and 9.38 [4][5]

Core Viewpoint - The successful completion of the second 400,000-ton ore terminal at Qingdao Port marks a significant milestone in the development of the world's largest ore terminal project, showcasing high-quality construction and advanced engineering capabilities [1][3][6]. Group 1: Project Overview - The second 400,000-ton ore terminal project at Dongjiakou Port, Qingdao, has been completed and passed inspection, featuring advanced construction techniques and significant engineering achievements [1][3]. - The project involved the installation of 662 beam panels, 462 meters of approach bridges, and extensive cable and structural work, highlighting the scale and complexity of the construction [1][3][6]. Group 2: Challenges and Solutions - The construction faced numerous challenges, including tight timelines, complex engineering requirements, and the need for precise measurements, with structural components needing to be within 5 millimeters of specified tolerances [3][4][8]. - The project team worked long hours, averaging 15 to 16 hours a day, to meet deadlines and ensure quality, demonstrating a strong commitment to overcoming obstacles [4][6][15]. Group 3: Government and Organizational Support - Strong support from local government and the Qingdao Port Group was crucial in facilitating the project's progress, providing necessary resources and policy backing [4][6]. - The project was characterized by a collaborative spirit among team members, with a focus on high standards and quality, aiming to create a "century-old quality project" [7][8][12]. Group 4: Technological Innovations - The terminal incorporates innovative technologies, including a smart control platform for dry bulk cargo operations, enhancing efficiency and reducing costs [9][11][12]. - The project has set new standards in the industry, with achievements such as the first comprehensive smart collaborative operation model for dry bulk terminals, showcasing Qingdao Port's leadership in port technology [11][12][13]. Group 5: Future Prospects - The successful completion of this terminal sets the stage for future projects at Qingdao Port, including upgrades and new constructions, reflecting the ongoing commitment to development and innovation in the port industry [20].

Core Viewpoint - Qingdao Port achieved a net profit attributable to shareholders of 4.18 billion yuan from January to September 2025, representing a year-on-year growth of 6.33% [1] - In Q3 2025, the net profit attributable to shareholders was 1.34 billion yuan, showing a year-on-year increase of 3.79%, indicating strong profitability resilience [1] Group 1: Company Performance - Qingdao Port is a natural deep-water port with advantages in proximity and travel time to major ports like Busan, the Bohai Rim ports, and Shanghai, contributing to continuous growth in cargo throughput [1] - The company has completed the acquisition of its former joint venture Weihai Qingwei since 2022 and announced the acquisition of quality assets from Rizhao Port and Yantai Port in 2023, with ongoing progress in asset integration [1] Group 2: Financial Metrics - The company has a current dividend yield of 3.54%, with retained earnings continuing to grow, indicating potential for future dividend increases [1] - Since 2021, the risk-free rate of return has been declining, enhancing the value of low-risk, high-dividend income-generating assets [1] Group 3: Investment Outlook - The company is considered attractive for investment, maintaining a "buy" rating due to its strong financial performance and growth prospects [1]

Group 1 - The core viewpoint of the news highlights the active performance of the China-South Korea Free Trade Zone sector, with notable stock movements [1] Group 2 - Langzi Co., Ltd. reached the daily limit increase in stock price [1] - Other stocks such as Qingdao Kingking, Lianyungang, and Qingdao Port also experienced upward trends [1]

Core Viewpoint - Qingdao Port (601298) has announced the election of new leadership for its fifth board of directors, indicating a strategic shift in management [1] Group 1: Board Elections - Su Jianguang has been elected as the chairman of the fifth board of directors [1] - Li Wu has been elected as the vice chairman of the fifth board of directors [1] Group 2: Management Appointments - Zhang Baohua has been appointed as the general manager of the company [1] - The following individuals have been appointed as vice general managers: Chang Zhizhuan, Li Jingkui, Yu Shoushui, Li Zhengxu, Dai Weijun, and Liu Shuiguo [1] - Sun Hongmei has been appointed as the secretary of the board of directors [1] Group 3: Securities Affairs - Lou Yingying has been appointed as the securities affairs representative, responsible for assisting the board secretary [1]

Core Points - The board of Qingdao Port has approved the election of Su Jianguang as the chairman of the fifth board of directors [1] - Li Wucheng has been elected as the vice chairman of the fifth board of directors [1] - The term for both the chairman and vice chairman will last until the end of the fifth board's term [1] Management Appointments - Zhang Baohua has been appointed as the general manager of the company [1] - The following individuals have been appointed as vice general managers: Chang Zhizhuan, Li Jingkui, Yu Shoushui, Li Zhengxu, Dai Weijun, and Liu Shuiguo [1] - Sun Hongmei has been appointed as the board secretary [1] - Lou Yingying has been appointed as the securities affairs representative to assist the board secretary [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致 的任何損失承擔任何責任。 Qingdao Port International Co., Ltd. 青島港國際股份有限公司 （於中華人民共和國成立的股份有限公司） （股份代號：06198） 海外監管公告 本公告乃青島港國際股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上 市規則第13.10B條作出。 以下為本公司於上海證券交易所網站（www.sse.com.cn）刊發之《青島港國際股份有限 公司第五屆董事會第一次會議決議公告》，僅供參閱。 承董事會命 青島港國際股份有限公司 证券简称：青岛港 证券代码：601298 公告编号：临 2025-037 青岛港国际股份有限公司 第五届董事会第一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 董事長 蘇建光 中國·青島，2025年10月29日 於本公告日期 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致 的任何損失承擔任何責任。 Qingdao Port International Co., Ltd. 青島港國際股份有限公司 （於中華人民共和國成立的股份有限公司） 於本公告日期，本公司執行董事為蘇建光先生及張保華先生；本公司非執行董事為李武成先生、吳 宇女士、崔亮先生及王芙玲女士；及本公司獨立非執行董事為鄒國強先生、李曉慧女士及姜省路先 生。 （股份代號：06198） 海外監管公告 本公告乃青島港國際股份有限公司（「本公司」）根據香港聯合交易所有限公司證券上 市規則第13.10B條作出。 以下為本公司於上海證券交易所網站（www.sse.com.cn）刊發之《北京市嘉源律師事務 所關於青島港國際股份有限公司2025年第二次臨時股東大會的法律意見書》，僅供參 閱。 承董事會命 青島港國際股份有限公司 董事長 蘇建光 中國·青島，2025年10月29日 青岛港 · 2025 年第二次临时股东大会 嘉源 · 法律意见书 E 源 律师事 ...

Core Viewpoint - Qingdao Port has appointed Mr. Cui Liang as a non-independent director, bringing over 30 years of experience in the port industry to the company [1] Group 1: Management Changes - Mr. Cui Liang has been appointed as a non-independent director, currently serving in multiple roles within Qingdao Port and its subsidiaries [1] - Recent management changes include the appointment of Mr. Liu Shuiguo and Mr. Dai Weijun as vice presidents, both with extensive backgrounds in the port industry [4][5] - Other new non-independent directors include Mr. Li Wucheng, Mr. Zhang Baohua, Mr. Su Jianguang, and Ms. Wu Yu, all of whom have significant experience in port management [6][7][8][9] Group 2: Management Compensation - The total compensation for directors and senior management in 2024 is reported at 9.809 million yuan, with an average salary of 1.2141 million yuan [2] - The total compensation has increased by 609,200 yuan from 2022 to 2024, reflecting a growth rate of 6.62% [3] - The highest salary among the management is held by General Manager Zhang Baohua at 1.5526 million yuan, while the lowest is held by Secretary of the Board Sun Hongmei at 956,900 yuan [2][3] Group 3: Stock Performance - Qingdao Port's stock price increased from 5.03 yuan at the end of 2022 to 8.90 yuan at the end of 2024, representing a growth of 77.07% [4] - The stock price growth correlates with the increase in management compensation, with a reported annual stock price increase of 54.23% in 2024 [4]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601298 证券简称：青岛港 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导性陈 述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一）主要会计数据和财务指标 单位：元 币种：人民币 ■ 注："本报告期"指本季度初至本季度末3个月期间，下同。 （二）非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 （三）主要会计数据、财 ...